PANews reported on August 30 that according to Indian media Deshgujarat, an Indian anti-corruption court has sentenced 14 people to life imprisonment, including 11 police officials and a former Bharatiya Janata Party (BJP) legislative assembly member. They were charged with kidnapping an Indian businessman and extorting cryptocurrency in 2018. The judge found the gang guilty of criminal conspiracy, kidnapping for ransom, illegal detention and assault. It is reported that Indian businessman Shailesh Bhatt recovered part of his investment in the form of Bitcoin after the collapse of BitConnect, a company he invested in. However, after learning that he had recovered part of his investment, the above-mentioned officials planned a kidnapping conspiracy to seize cryptocurrencies. In the end, Shailesh Bhatt was released only after agreeing to transfer some Bitcoin and US$3.6 million in cash.PANews reported on August 30 that according to Indian media Deshgujarat, an Indian anti-corruption court has sentenced 14 people to life imprisonment, including 11 police officials and a former Bharatiya Janata Party (BJP) legislative assembly member. They were charged with kidnapping an Indian businessman and extorting cryptocurrency in 2018. The judge found the gang guilty of criminal conspiracy, kidnapping for ransom, illegal detention and assault. It is reported that Indian businessman Shailesh Bhatt recovered part of his investment in the form of Bitcoin after the collapse of BitConnect, a company he invested in. However, after learning that he had recovered part of his investment, the above-mentioned officials planned a kidnapping conspiracy to seize cryptocurrencies. In the end, Shailesh Bhatt was released only after agreeing to transfer some Bitcoin and US$3.6 million in cash.
Indian court sentences 14 people to life in prison in cryptocurrency extortion case
For feedback or concerns regarding this content, please contact us at crypto.news@mexc.com
PANews reported on August 30 that according to Indian media Deshgujarat, an Indian anti-corruption court has sentenced 14 people to life imprisonment, including 11 police officials and a former Bharatiya Janata Party (BJP) legislative assembly member. They were charged with kidnapping an Indian businessman and extorting cryptocurrency in 2018. The judge found the gang guilty of criminal conspiracy, kidnapping for ransom, illegal detention and assault.
It is reported that Indian businessman Shailesh Bhatt recovered part of his investment in the form of Bitcoin after the collapse of BitConnect, a company he invested in. However, after learning that he had recovered part of his investment, the above-mentioned officials planned a kidnapping conspiracy to seize cryptocurrencies. In the end, Shailesh Bhatt was released only after agreeing to transfer some Bitcoin and US$3.6 million in cash.
Market Opportunity
FORM Price(FORM)
$0.2512
$0.2512$0.2512
USD
FORM (FORM) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
Fed Decides On Interest Rates Today—Here’s What To Watch For
The post Fed Decides On Interest Rates Today—Here’s What To Watch For appeared on BitcoinEthereumNews.com. Topline The Federal Reserve on Wednesday will conclude a two-day policymaking meeting and release a decision on whether to lower interest rates—following months of pressure and criticism from President Donald Trump—and potentially signal whether additional cuts are on the way. President Donald Trump has urged the central bank to “CUT INTEREST RATES, NOW, AND BIGGER” than they might plan to. Getty Images Key Facts The central bank is poised to cut interest rates by at least a quarter-point, down from the 4.25% to 4.5% range where they have been held since December to between 4% and 4.25%, as Wall Street has placed 100% odds of a rate cut, according to CME’s FedWatch, with higher odds (94%) on a quarter-point cut than a half-point (6%) reduction. Fed governors Christopher Waller and Michelle Bowman, both Trump appointees, voted in July for a quarter-point reduction to rates, and they may dissent again in favor of a large cut alongside Stephen Miran, Trump’s Council of Economic Advisers’ chair, who was sworn in at the meeting’s start on Tuesday. It’s unclear whether other policymakers, including Kansas City Fed President Jeffrey Schmid and St. Louis Fed President Alberto Musalem, will favor larger cuts or opt for no reduction. Fed Chair Jerome Powell said in his Jackson Hole, Wyoming, address last month the central bank would likely consider a looser monetary policy, noting the “shifting balance of risks” on the U.S. economy “may warrant adjusting our policy stance.” David Mericle, an economist for Goldman Sachs, wrote in a note the “key question” for the Fed’s meeting is whether policymakers signal “this is likely the first in a series of consecutive cuts” as the central bank is anticipated to “acknowledge the softening in the labor market,” though they may not “nod to an October cut.” Mericle said he…
Share
BitcoinEthereumNews2025/09/18 00:23
Tips to Optimise Particle Size Distribution in Milling
The Significance of Particle Size in Milling Processes In milling processes, achieving the right particle size is very important. It affects product quality, performance
Share
Techbullion2026/03/20 01:06
Senate Republicans Hold Closed-Door Meeting on Cryptocurrency Yield Regulation
Senate Republicans held a closed-door meeting to discuss cryptocurrency yield regulation, signaling a critical and sensitive phase in broader digital asset legislation
Share
coinlineup2026/03/20 01:30
